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Ethics and GIPS are CFA-exclusive, so apart from the exam and CFA-related compliance you’re unlikely to encounter these in real life. CFAI places a lot of importance on Ethics so that’s unskippable, but you might get away with tossing GIPS in the trash.
I think you’ll be OK for L1 but the danger is running into a full vignette about GIPS in L2 or L3. I personally wouldn’t skip it, at least ‘light touch’ review and hope for the best.